New Report on Vietnam's Furniture Industry

December 18, 2008  by in UnCategorized   

By Home Furnishings Business in economic news on December 19, 2008

Dublin, Ireland-based Research and Markets has issued a new report, "Vietnam Sourcing Report: Indoor & Outdoor Furniture," that said the country has increased its wood products exports increase 1000 percent since 2000, from $200 million to $2.36 billion in 2007.

The report identified several key trends we see in Vietnam's indoor and outdoor furniture industry:

* Exports in the category are expected to see robust growth in the next 12 months, with a slight change in main export markets.

* While the United States is the biggest importer of Vietnam-made furniture, many suppliers will target the European Union in the coming months.

* Most, if not all, suppliers will increase export prices by end 2008 to early 2009. The rising production costs has prompted suppliers to implement price adjustments. However, suppliers will limit increases to 15 percent.

* In the next 12 months, many suppliers will focus R&D efforts on models with contemporary styles and colors, and feature multifunction

The report includes in-depth profiles of 17 major suppliers with a comprehensive look at their product and pricing strategy, manufacturing and export capability, and verified contact details; profile tables of 20 additional suppliers, with information such as production capacities, export capabilities and key export markets; a Product Gallery featuring 109 full-color images that depict popular furniture exports, complete with product descriptions, prices, minimum order requirements and delivery times; results of the custom-designed supplier survey, which forecasts industry trends for the next 12 months; and verified supplier contact details, including names, e-mails, telephone numbers and Web sites of profiled makers.

Vietnam's Ministry of Trade anticipates continuous growth, with exports of wooden products expected to reach $5.5 billion by 2010.

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